Statoil awards NOK 5bn supply base contracts

OSLO: Norwegian energy firm Statoil has awarded service contracts worth around 5 billion Norwegian crowns ($640.38 mln)over a ten-year period for seven of its supply bases in Norway, it said on Wednesday.

The contracts have been awarded to NorSea Group, 40 percent owned by Wilh. Wilhelmsen Holding, Saga Fjordbase and Asco Norge. They have a duration of six years plus options for a further two times two years, Statoil said in a statement.

"Logistics represent some 10 percent of our field costs and making base operations more efficient is essential for extending the lifetime of the fields we operate," senior vice president for operations, Astrid Soerensen, said.